It is time for the karate kids and adults to roll with the punches, this time in the form of a blockchain-based project. Fiery kicks and crushing punches are no defense when it comes to lack of sponsorships, inefficient fund management, and inability to keep the people hooked on to the ancient sport. BoutsPro, a blockchain-based project, hopes to connect the larger karate community and provide transparent transaction and funding mechanisms, with decentralized solutions to existing troubles.
BoutsPro is an implementation of smart contracts on Ethereum. It works under the ERC 20 protocol that defines a set of rules which need to be met in order to accept a token. BoutsPro would help streamlining, managing and increasing the transparency of funds. Bouts is the name of the token which is going to be used in the blockchain karate system. This token can be leveraged by organisers, advertisers and students to avail risk free activities and complete transactions.
The BoutsPro seeks to engage all those organisations that are willing to sponsor future talents and connect them with the global community passionate about karate. More than endorsements, a student seeks proper training and facilities which could help them start off on the right path. This system aims to bring students, teachers and supporters on the same platform where they can interact and build strong, professional relationships. This would be a decentralised system that would handle activities, sponsorships and other interesting projects that the karate kids can undertake!
A major reason behind using Blockchain technology is to create a transparent registration system which will be based on a fee payable in Bouts. The BoutsPro ICO was live during a large part of March when developers launched it in a single-phase ICO to provide equal opportunities for all.
The ICO begins with 9000 Bouts tokens payable in ETH with a minimum price of 0.1 ETH. In this distribution 50% is reserved for public crowdfunding, 25% for the karate community, and 5%t for players, trainers and prizes. Another 5% has been saved for future platform demands while 3% goes into the bounty campaign, and 2% remains reserved for advisors.
Blockchain technology might spark a much needed energy in the karate community. A long enduring industry combined with an innovative approach could very well produce an exciting results.